Digital case-in-point examples
- Large US based asset manager adopted a cloud based solution to drive personalized marketing for clients of financial advisors and institutions, delivered across devices. Resulted in 80% increase in website registrations, improved user experience, and 50% reduction in the time taken for publishing campaign content.
- Large retail brokerage firm implemented a modernization program leveraging microservices and a container-based approach to transforming the existing mainframe systems. Benefits include faster time-to-market, improved resiliency, and ease of maintenance aside from the immediate benefits in user experience.
- Large middle east bank launched a mobile-only bank with a reimagined platform for banking, investments and insurance. The process involved a human-centric design approach focusing on the bank’s core concept, business model, multichannel and digital experience.
Management required for digital adoption
Traditional qualities of a leader like risk-taking ability, decision-making capabilities, accountability, delegation & empowerment still hold good. However, in the digital age the way ahead will be to:
- Adopt the agile way of thinking across program execution, to ensure business and IT are always working together in a collaborative engagement. This can be done through deep and wide training on Agile philosophy and implementation at the workplace
- Remove fear and guesswork from the organization. This can be done with a use-case based approach and clear outcomes defined for success and failure
- Drive design-thinking and human-centric service design to build new product-service experiences
- Move from project and budgeting-based model to product/platform approach and prioritization based on business outcomes
- Build a T and π shaped organization by investing in cross skilled resources across the multiple capabilities needed to deliver on user experience and effectiveness
1. A PwC report on “Capital markets 2020” - 2018
3. Everest Group - Enterprise Digital Adoption in Banking and Financial Services Pinnacle Model – 2018
4. Gartner report on The Future of Work – 2017
5. ENY report on New opportunities for Securities industry – 2017